Topics in Auditing

MRR445 Topics in Auditing

Spring 2020

  • Topics

    Part one:

    • Professional judgements
    • Accounting estimates, including fair value measurements
    • Audit reporting

    Part two:

    • White-collar criminal behavior
    • Corruption and anti-corruption measures

    Part three:

    • Materiality
    • Use of specialists (experts) in the audit process

    Part four (all digital):

    • Analytical procedures

  • Learning outcome

    Knowledge - upon successful completion the student

    • Know the components of and threats to good professional judgment.
    • Know how features of the audit team environment can impact good professional judgment. 
    • Know the significance of accounting estimates and audit reporting and be able to apply this knowledge in an audit
    • Know why specialists (experts) are needed, how they are used and be able to discuss new research related to how they interact with the audit team and auditees.
    • Understand auditors´ materiality judgments, know how to apply materiality to all phases of the audit, and have insights into the effects of disclosure of materiality levels.
    • Know the professional obligations relating to fraud detection and required fraud procedures. 
    • Understand the current empirical knowledge about the who and why of accounting fraud. Be able to reflect how this relates to the audit process and auditors' ability to detect such crimes.
    • Understand the causes and consequences of corruption, how anti-corruption measures may reduce the risk of corruption, and the auditor's role in fighting corruption.


    Skills - upon successful completion the student

    • Be able to apply good professional judgment in audits.
    • Understand modern analytical procedures available to auditors.
    • Know how to critically assess the expertise and potential bias of client´s specialists.
    • Be able to critically reflect on auditors ability to discover financial crimes, and learn the regulations that guide practice in this area.
    • Be able to critically reflect on how audit materiality affects the audit quality on engagements.

    General competence - upon successful completion the student

    • Have general professional practice competence through in-depth understanding of audit theory, audit concepts, and current challenging auditing issues
    • Is able to communicate with both specialist and non-specialists about the topics covered in the course

  • Teaching

    The course covers research and professional literature as well as problems/cases. It is expected that you are prepared to each class (i.e., you have read the material in advance). In a graduate course, it is desirable to have significant instructor/student discussions.  The section about audit judgment will be lectured intensively over a week early in the semester. 

    There will be two mandatory case lectures, where groups of students will present their answers to assigned cases. Student preparation for and participation in discussions of problems/cases are an important part of the learning process. See Canvas for more information.

  • Recommended prerequisites

    Auditing knowledge similar to MRR411 Revisjon (auditing).

  • Required prerequisites


  • Requirements for course approval

    Attendance at case lectures (Two).

  • Assessment

    Term paper delivered in groups of 2-4 participants (60% of final grade) and two hour multiple choice/short answers exam (40% of final grade).

    The term paper will be made available by the middle of October 2019, and the students will have 30 days to prepare an answer.  The term paper can be written in either Norwegian or English. 

  • Grading Scale

    Grading A - F

  • Computer tools


  • Literature

    Research articles, professional articles, and audit cases posted on Canvas. The lectures and classes are considered part of the curriculum.


ECTS Credits
Teaching language
 English and Norwegian

Autumn. Offered autumn 2019.

Course responsible

Course responsible:

  • Kyrre Kjellevold, PhD Research Scholar, Department of Accounting, Auditing and Law
  • Aasmund Eilifsen, Professor in Auditing, Department of Accounting, Auditing and Law

Other lecturers:

  • William F. Messier Jr., Professor II, Department of Accounting, Auditing and Law, CPA
  • Tom McKee, Professor II, Department of Accounting, Auditing and Law, CPA
  • Tina Søreide, Professor, Department of Accounting, Auditing and Law
  • Gunnar Holm Ringen, Partner, Ansvarlig advokat, PwC Norway